Fast-casual set to outperform all others.
Consumers' use of restaurants and retailers for social catering found three-year compound annual growth rates projected at 5 percent or better for several market segments, according to Technomic's Parties Off Premise Study.
Fast-casual restaurants are poised to outperform all other players, with projected growth at 12 percent, followed by quick-service sandwich restaurants (8 percent) and club stores (7 percent). As a group, restaurants now capture four times the revenue of retailers for these occasions, $19.3 billion versus $4.0 billion.
While limited- and full-service restaurants hold the strongest shares of this market (36 percent and 34 percent, respectively), they appear to be taking share from independent caterers and retail foodservice operators.
Other interesting findings: